Close Newsletter
South Africa newsletter
Signup for the newsletter and keep updated
about the best brokers and auto trading robots.
Exclusive promotion: get a free account

Get a free $10,000 demo account!

Your capital is at risk

Rating: Rated with 4.5 stars
Binary Option Programs Award
Min. Deposit
Min. Investment
Regulated Broker

CherryTrade Broker Review

  1. This broker is closed. 

    CherryTrade General Info

    Since 2013, CherryTrade is present in binary options industry as a reliable broker. They try to ensure their traders worldwide with a secure trading platform, which is the most important element in binary options trading. We had a positive experience during CherryTrade review and further details on their trading tools and services, our readers can find in our CherryTrade review.

    fx advisor banner

    CherryTrade Trading Platform

    In CherryTrade review, we learnt CherryTrade uses SpotOption software with an user friendly interface, which provide very high security level to traders in South Africa who joined CherryTrade platform. Graphics and trading room is very clear and looks appealing for registered traders. This broker accepts traders from around the world, including those residing in South Africa. All traders are welcome to join their trading platform and place trades with a wide selection of different assets.

    Minimum deposit to start trading binary options with CherryTrade review is $200 and maximum return traders can achieve is 85%. Maximum bonus is $20000. Minimum investment to begin trading is $5, while maximum is $1000. Traders can place trades in currencies: EUR and USD. All these information we found out during CherryTrade review.

    CherryTrade Trading Features and Accounts

    With CherryTrade review, it is possible to trade with many different underlying assets that include stocks, commodities, currencies and indices. Traders can find all assets listed under Asset Index on the site. This excellent software enables South African traders to monitor all significant elements on one place, such as settings, traded assets, trade amount and expiration time on the top of the trading platform.

    In this CherryTrade review, traders can see which trade options are available: 60 Seconds, High/Low, One Touch, Long Term, Pair Options and Ladder Options. All mentioned options can be used by traders beginners as well as with professional traders. Traders can select different expiry time, including 30 seconds, 60 seconds, 2 minutes, 5 minutes, 30 minutes, 1 hr and 24 hr.

    During our CherryTrade review, we discovered that they offer traders 5 account types with different minimum deposit and available trading services.

    • Basic account – investment up to $1000
    • Professional account – investment up to $5000
    • Expert account –  investment up to $10000
    • VIP account –  investment up to $25000
    • Corporate account –  investment by agreement

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    CherryTrade allows traders in South Africa and worldwide to use a wide range of services and trading feature that will help them achieve excellent trading results in binary options trading process. As a great example of how to attract traders to join trading platform is to offer them CherryTrade mobile application. Mobile trading enables them to be able to trade binary options when on the move and not always to be in front of the computer. Traders can use this mobile app on tablets and smartphones and place trades in different assets and use strategies to achieve high payouts. This all is possible thanks to technology improvements in the past few years. CherryTrade mobile app is compatible with iOS and Android system. Also, trading platform is available on two languages, English and Arabic.

    The latest new feature shown in CherryTrade review is iFollow. This trading feature enables traders to track the best professional and experienced traders in the industry from the very beginning. iFollow works on principle that traders choose which trading expert they want to follow and believe they will have a successful trading process. To start using this tool, traders have to log in to the account and go on “Trade Now” field. When trader expert is chosen, traders have to choose trade type that will be copied on their account and click on button Asset Trader. After all parameters are chosen, including trading time frame, traders only have to click on Followed Traders and monitor trade process.

    How to Benefit from CherryTrade South Africa?

    Timely and accurate information is of great significance when deciding which assets to select. Experienced traders CherryTrade South Africa have developed a mechanism that works, which can ultimately bring money from trading process. Whether traders want to invest in stocks, commodities, currencies or indices, the best thing they can use is to inform themselves on current situation on the financial market. For example, it would be a pure guessing if the trader decides to invest in oil, not knowing anything about oil price currently or situation present on the market, if any. By knowing latest updates and market report, traders can be more involved and they can at the end, have a profitable experience if they invest in those assets that well-listed on the market.  

    During our CherryTrade review, we found out how CherryTrade pays a lot of attention to provide traders a wide selection of available education materials for successful binary options trading process.Education section is consisted of introductory webinars, ebook, a variety of trading tutorials and courses for new and professional traders. Traders in South Africa can also check Market News to get the latest news on financial market that can assist them to bring an accurate decision of price movement of the particular asset.

    CherryTrade Customer Support

    Traders will be very satisfied to know they can contact CherryTrade through different communication channels, such as email [email protected], live chat, web form and via telephone. The quickest way to reach this broker is through live chat where agent is available within seconds.

    Phone numbers are available for following countries: South Africa (+27 213002886), UK, Denmark, Sweden, Finland, Norway, Italy, France, Austria, Luxembourg, Netherland, Spain, Switzerland, Japan, Bahrain, Hong Kong, Australia and New Zealand.  

    CherryTrade Banking Info

    Before depositing and withdrawing funds, traders have to send CherryTrade few document copies to confirm identity. They include photo ID and proof of address.

    Regarding available deposit payment methods, CherryTrade review accepts payment done by debit cards (Maestro, Switch and Solo), credit cards (Mastercard, Visa, Visa Electron, Diners and Delta) and bank wire. No withdrawal fee is charged for payments done by credit cards. In case of bank transfer, CherryTrade charges $30 fee. Minimum withdrawal is set on $100 via credit cards and $500 through bank wire transfer. Estimated withdrawal time is about 5 business days.

    CherryTrade Withdrawal

    South Africans can execute CherryTrade withdrawal through several payment ways:

    • debit cards – Maestro, Switch and Solo
    • credit cards – Mastercard, Visa, Visa Electron, Delta and Diners Club
    • bank wire transfer

    For money to arrive on traders’ account, traders have to submit CherryTrade withdrawal request. It usually takes 3 business days to get approved feedback from CherryTrade. Additional 5-7 business days are required to receive funds.

    Minimum CherryTrade withdrawal amount is $100. Traders who use bank wire have to pay withdrawal fee of $30. However, in case of card payment, no fee will be charged. Maximum CherryTrade withdrawal is set to $20000. If traders in South Africa need any assistance related to CherryTrade withdrawal process, they can contact their customer support.

    fx advisor banner
    Binary Option South Africa
    Conclusion: We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10! Between 74-89 % of retail investor accounts lose money when trading CFDs

CherryTrade articles